Question
Use the adjusted trial balance for Stockton Company below to answer the question that follows. Stockton Company Adjusted Trial Balance 12/31/21 Cash 7,530 Accounts Receivable
Use the adjusted trial balance for Stockton Company below to answer the question that follows. Stockton Company Adjusted Trial Balance 12/31/21 Cash 7,530 Accounts Receivable 2,100 Prepaid Expenses 700 Equipment 13,700 Accumulated Depreciation 1,100 Accounts Payable 1,900 Notes Payable 4,300 Common Stock 1,000 Retained Earnings 12,940 Dividends 790 Service Revenue 9,250 Wages Expense 2,500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 185 Totals 30,490 30,490 Determine the net income (loss) for the period.
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